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ROBERT L. EHRLICH, JR., Governor
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Ch. 275
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(4) THE ESTABLISHMENT OF STATE CHARTERED PUBLIC
CORPORATIONS TO DEVELOP MILITARY INSTALLATIONS SLATED FOR CLOSURE OR
REALIGNMENT IN THE STATE WOULD:
(I) SERVE THE PUBLIC INTEREST;
(II) COMPLEMENT EXISTING STATE MARKETING PROGRAMS
ADMINISTERED BY THE DEPARTMENT THROUGH ITS OFFICE OF BUSINESS
DEVELOPMENT AND RESOURCES AND THROUGH FINANCIAL ASSISTANCE PROGRAMS
SUCH AS THOSE OF THE MARYLAND INDUSTRIAL DEVELOPMENT FINANCING
AUTHORITY AND THE MARYLAND ECONOMIC DEVELOPMENT ASSISTANCE
AUTHORITY AND FUND; AND
(III) SERVE AS AN ADDITIONAL MEANS TO ACHIEVE THE MISSION
OF THE COUNCIL.
(B) THE GENERAL ASSEMBLY INTENDS THAT:
(1) AN AUTHORITY STRUCTURE ITS PROJECTS TO ACCELERATE THE
TRANSFER OF FACILITIES AND SITES FROM THE FEDERAL GOVERNMENT INTO
PRODUCTIVE REUSE OF THE FACILITIES AND SITES TO MAXIMIZE ECONOMIC
OPPORTUNITIES FOR THE CITIZENS OF THIS STATE; AND
(2) THIS SUBTITLE IS A TEMPLATE FOR THE STRUCTURE,
AUTHORIZATION, AND OPERATION OF EACH LOCAL REDEVELOPMENT AUTHORITY
ACCEPTED BY THE OFFICE OF ECONOMIC ADJUSTMENT OF THE DEPARTMENT OF
DEFENSE TO PERFORM THE TASKS REQUIRED WHEN LAND IS TRANSFERRED FROM
THE FEDERAL GOVERNMENT TO AN AUTHORITY IN ACCORDANCE WITH THE
FEDERAL DEFENSE BASE CLOSURE AND REALIGNMENT ACT OF 1990.
5-1703.
(A) THIS SUBTITLE IS SELF-EXECUTING AND FULLY AUTHORIZES THE
SECRETARY TO CREATE A LOCAL REDEVELOPMENT AUTHORITY.
(B) (1) THE SECRETARY SHALL EXECUTE AND FILE PROPOSED ARTICLES OF
INCORPORATION OF AN AUTHORITY WITH THE DEPARTMENT OF ASSESSMENTS AND
TAXATION.
(2) THE PROPOSED ARTICLES OF INCORPORATION SHALL STATE:
(I) THE NAME OF THE AUTHORITY;
(II) THAT THE AUTHORITY IS FORMED UNDER THIS SUBTITLE;
(III) THE NAMES, ADDRESSES, AND TERMS OF OFFICE OF THE FIRST
MEMBERS OF THE BOARD OF DIRECTORS OF THE AUTHORITY;
(IV) THE LOCATION OF THE PRINCIPAL OFFICE OF THE AUTHORITY;
(V) THE PURPOSES FOR WHICH THE AUTHORITY IS FORMED; AND
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- 1361 -
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